CEO Financial News

Nilesh Shah, MD, Kotak AMC, says “no one would like to run a loss-making business for long. Today, we are doing this more as an experimentation with the bottom of the pyramid and ensuring that our technology, our communication, and our services are up to their expectations. But once we put in place the KYC cost and the transaction processing cost, then the industry will go all out in marketing this SIP. My dream as an AMC CEO will be to ensure that no Indians get lured by Ponzi schemes, but all become my industry's SIP investors and secure financial future.” The big trend which is happening is that SIP has become a household name now. It appears that now SEBI may look at taking a step forward for higher inclusion and reducing the minimum size to Rs 250. Will it make a lasting impression and much wider inclusion? From the AMC side, a Rs 500 SIP, how economic is it or is it that the larger, higher SIP part of the book, is subsidising this one because there are costs involved. What would you say?We have been running SIP for Rs 100 across our equity and fixed income fund. But as you correctly mentioned, it is a loss-making proposition for us. It is loss-making at two levels. One, typically people who are starting Rs 100, Rs 200, Rs 250 SIP are first-time investors into mutual funds and where we have to do KYC.

Max Life Insurance Company has introduced the Smart Total Elite Protection Plan, a comprehensive term life insurance policy designed to align with contemporary lifestyles. This plan offers extensive coverage customized to meet evolving consumer preferences. Max Life Smart Total Elite Protection Term Plan (STEP) is a non-linked, non-participating, individual pure-risk premium life insurance plan.

Hasbro had said in January it would cut about 1,000 full-time positions. On Monday, the company said it had already cut 800 jobs. At the end of 2022, Hasbro had employed about 6,490 people worldwide, according to a regulatory filing.

Zara pulled an advertising campaign featuring mannequins with missing limbs and statues wrapped in white from the front page of its website and app on Monday after it prompted calls by some pro-Palestine activists for a boycott of the fashion retailer. Inditex, which owns Zara, said the change was part of its normal procedure of refreshing content. It did not comment on the boycott calls, but said the «Atelier» collection was conceived in July and the photos were taken in September. The war between Israel and Hamas began after Oct. 7

CoRover.ai on Monday announced the official launch of BharatGPT, its Indian language generative AI platform, with Google Cloud as its ‘technology partner’. “BharatGPT champions the linguistic diversity of the nation, supporting over 14 Indian languages across text, voice, and video interactions. Google Cloud as CoRover’s Cloud service provider will help CoRover enhance and scale BharatGPT,” the Bengaluru-based startup said in a press release.

A federal court jury has decided that Google’s Android app store has been protected by anticompetitive barriers that have damaged smartphone consumers and software developers, dealing a blow to a major pillar of a technology empire

Adam Selipsky is shepherding Amazon’s cloud unit at one of the most important moments in tech history

Elon Musk has restored the X account of conspiracy theorist Alex Jones

Shake Shack CEO Randy Garutti will retire next year with the burger and milkshake chain gaining significant momentum as it undergoes a significant expansion

Toy maker Hasbro is cutting about 1,100 jobs, or 20% of its workforce

Boeing is promoting a woman to one of its top jobs, putting her in the discussion about possible successors to current CEO David Calhoun

Occidental is buying oil and gas company CrownRock in a cash-and-stock deal valued at about $12 billion

Shares of Oracle (NYSE:ORCL) dropped over 9% after-hours today following the announcement of the company's Q2 results. Oracle reported a shortfall in its quarterly revenue, attributed to a challenging economic environment and heightened competition in the cloud computing sector, impacting the demand for its cloud services.

(Reuters) -Hasbro said on Monday it would be cutting more jobs, as the toymaker struggles with weaker sales amid the holiday season.

Automotive News reports Monday that Detroit automaker, Ford Motor (NYSE:F) has sent a memo to suppliers with plans to cut production on the company’s F-150 Lightning electric pickup truck by half in 2024.

By Sabrina Valle, Sourasis Bose and Arathy Somasekhar

The U.S. government is currently in talks with NVIDIA (NVDA) regarding the conditions under which it can sell AI chips to China. The administration has made it clear that Nvidia (NASDAQ:NVDA) is not allowed to export its most sophisticated semiconductors to Chinese companies.

-Name withheld on request The markets will now gain a lot of confidence from the state election results, which overwhelmingly confirm the continuity of the government in the 2024 elections as well. India is today one of the fastest-growing economies in the world, as most macro data suggests. Therefore, this win strengthens expectations of the continuity of policy reforms that can drive growth higher.

Chief Financial Officer. As Deputy CFO, he has been leading multiple portfolios in the finance function for several years now and his depth of experience and knowledge will serve us well to take the function to greater heights. I would also like to express my deep appreciation for Nilanjan for ably leading the function over the last five years and wish him the very best for his future endeavors." said Salil Parekh, CEO & MD, Infosys.

New details have emerged surrounding Binance’s compliance requirements in the wake of the crypto exchange’s plea deal with the U.S. government, according to recently unsealed court documents.

The U.S. Department of Justice (DOJ) has announced a sixty-three-month prison sentence against a Miami crew leader for using stolen identities to steal $4 million from a crypto exchange.